Compute the Net Pay for Each Employee Listed Below

question 6

Essay

Compute the net pay for each employee listed below. Assume the following rates: FICA-OASDI 6.2% on a limit of $128,400; Medicare is 1.45%; federal income tax is 20%; state income tax is 5%; and union dues are $20.

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Definitions:

Expected Profit

The predicted amount of profit calculated by estimating revenues and subtracting estimated costs and expenses.

Landfill

A site for the disposal of waste materials by burying them, and is the oldest form of waste treatment.

Optimal Quantity

The best or most favorable amount of a good or product to order or produce, taking into account factors like cost minimization and service level optimization.

Sanitary Landfill

A waste disposal site where trash is isolated from the environment until it is safe. It is considered the most common method of organized waste disposal.